With the 15th Five-Year Plan period(2026-30)kicking off in 2026.this year's Two Sessions-the annual meetings of the National People's Congress(NPC)and the National Committee of the Chinese People's Politic...With the 15th Five-Year Plan period(2026-30)kicking off in 2026.this year's Two Sessions-the annual meetings of the National People's Congress(NPC)and the National Committee of the Chinese People's Political Consultative Conference(CPPCC),held from March 4 to 12一have drawn significant attention for the policy signals sent.展开更多
Dividing aggregate liabilities by GDP is not an appropriate method for calculating the leverage ratio, and may mislead deleveraging operations. In terms of an intrinsic mechanism, an appropriate measure of leverage ra...Dividing aggregate liabilities by GDP is not an appropriate method for calculating the leverage ratio, and may mislead deleveraging operations. In terms of an intrinsic mechanism, an appropriate measure of leverage ratio should be the liability/asset ratio. In their business operations, it is inevitable for real-economy enterprises to incur liabilities arising from business and financial transactions. Therefore, the significance of deleveraging operations is to reduce the leverage ratio below a certain threshold to effectively prevent risks arising from an excessive leverage ratio, rather than to reduce the liability ratio of real-economy enterprises to zero. For real-economy enterprises, a key question is how to adjust their debt structure by reducing current liabilities and increasing mid-and long-term liabilities. The debt structure of real-economy enterprises is primarily determined by their financial structure. Hence, it is essential to adjust the financial structure in order to improve the debt structure of real-economy enterprises and increase the share of direct finance. Various risks exist in the combination of shares and bonds within the banking system, investment-lending linkage and market-based debt-to-equity operations, which are options in reducing the leverage ratio for real-economy enterprises. From the standpoint of giving play to capital market functions, it is advisable to increase the issuance of midand long-term corporate bonds and preferred stock, restrict non-financial listed companies from engaging in financial operations and the shareholders of listed companies from selling shares, encourage equity investment institutions to enhance equity investment in realeconomy enterprises, and further develop the financing function of the stock market.展开更多
Every spring,China’s“two sessions”-the annual meetings of the National People’s Congress(NPC)and the Chinese People’s Political Consultative Conference(CPPCC)-draw sustained international attention.For global obs...Every spring,China’s“two sessions”-the annual meetings of the National People’s Congress(NPC)and the Chinese People’s Political Consultative Conference(CPPCC)-draw sustained international attention.For global observers and business communities alike,they provide an important window into the country’s policy priorities,economic direction,and long-term development strategy.For foreigners living and working in China,the annual event’s significance is even more profound.After years of engagement in the country in the field of international communication。展开更多
Traditionally,the U.S.president releases the National Security Strategy(NSS)report at the end of the first year of each term.As a core strategic document guiding U.S.domestic and foreign policy,it influences federal b...Traditionally,the U.S.president releases the National Security Strategy(NSS)report at the end of the first year of each term.As a core strategic document guiding U.S.domestic and foreign policy,it influences federal budget allocation and policy priorities,thus drawing considerable global attention.Beyond Latin America and domestic security.展开更多
文摘With the 15th Five-Year Plan period(2026-30)kicking off in 2026.this year's Two Sessions-the annual meetings of the National People's Congress(NPC)and the National Committee of the Chinese People's Political Consultative Conference(CPPCC),held from March 4 to 12一have drawn significant attention for the policy signals sent.
文摘Dividing aggregate liabilities by GDP is not an appropriate method for calculating the leverage ratio, and may mislead deleveraging operations. In terms of an intrinsic mechanism, an appropriate measure of leverage ratio should be the liability/asset ratio. In their business operations, it is inevitable for real-economy enterprises to incur liabilities arising from business and financial transactions. Therefore, the significance of deleveraging operations is to reduce the leverage ratio below a certain threshold to effectively prevent risks arising from an excessive leverage ratio, rather than to reduce the liability ratio of real-economy enterprises to zero. For real-economy enterprises, a key question is how to adjust their debt structure by reducing current liabilities and increasing mid-and long-term liabilities. The debt structure of real-economy enterprises is primarily determined by their financial structure. Hence, it is essential to adjust the financial structure in order to improve the debt structure of real-economy enterprises and increase the share of direct finance. Various risks exist in the combination of shares and bonds within the banking system, investment-lending linkage and market-based debt-to-equity operations, which are options in reducing the leverage ratio for real-economy enterprises. From the standpoint of giving play to capital market functions, it is advisable to increase the issuance of midand long-term corporate bonds and preferred stock, restrict non-financial listed companies from engaging in financial operations and the shareholders of listed companies from selling shares, encourage equity investment institutions to enhance equity investment in realeconomy enterprises, and further develop the financing function of the stock market.
文摘Every spring,China’s“two sessions”-the annual meetings of the National People’s Congress(NPC)and the Chinese People’s Political Consultative Conference(CPPCC)-draw sustained international attention.For global observers and business communities alike,they provide an important window into the country’s policy priorities,economic direction,and long-term development strategy.For foreigners living and working in China,the annual event’s significance is even more profound.After years of engagement in the country in the field of international communication。
文摘Traditionally,the U.S.president releases the National Security Strategy(NSS)report at the end of the first year of each term.As a core strategic document guiding U.S.domestic and foreign policy,it influences federal budget allocation and policy priorities,thus drawing considerable global attention.Beyond Latin America and domestic security.
